In the dynamic landscape of cybersecurity, staying ahead of evolving threats is paramount. The year 2024 brings forth compelling statistics that underscore the persistent challenges and trends in this realm. As we navigate through the intricacies of cyber threats, it becomes evident that a proactive approach, coupled with robust Identity and Access Management (IAM) solutions, is crucial for safeguarding sensitive information and maintaining operational integrity.

Global Cybersecurity Landscape:

• Cyber attacks continue to surge, with many companies expressing concerns about inadequate resources to counter these threats.
• Human error remains a leading cause of data breaches, emphasizing the need for enhanced cybersecurity awareness and education.

Web Application Vulnerabilities:

• 17% of cyber attacks target vulnerabilities in web applications.
• A staggering 98% of web applications are susceptible to attacks, including malware infiltration and redirection to malicious websites.
• 72% of vulnerabilities result from flaws in web application coding.

Budgets and Cybersecurity Investment:

• Cybersecurity budgets, as a percentage of firms’ total revenue, have witnessed a 51% increase.
• Despite the rise, 30% of executives consider their budgets insufficient for ensuring proper cybersecurity.
• Upskilling cybersecurity and IT staff, a crucial component of Soffid’s IAM services, emerges as the top cybersecurity investment, with 46% of companies prioritizing this area.

Technology Adoption and Security Measures:

• 50% of companies outsource their cybersecurity operations center, leveraging Soffid’s expertise.
• ISO 27001/27002, a framework supported by Soffid IAM, stands out as the most utilized cybersecurity framework (48% of companies).
• Only 29% of companies report using multi-factor authentication, an area where Soffid IAM offers advanced solutions.
• 66% of organizations expect their cybersecurity budget to grow in the coming year.

Ransomware and Malware Trends:

• Ransomware attacks have surged by 105% in 2021, with 623.3 million attacks globally in 2022.
• The finance sector witnesses a 64% share of successful cyber attacks involving ransomware.
• 5.4 billion malware attacks were recorded in 2022, with the US experiencing the highest frequency.

Phishing Challenges and Soffid IAM:

• 96% of phishing attacks are delivered via email, highlighting the need for advanced email security measures.
• Phishing and business email compromise result in over $500 million in losses annually.
• 85% of mobile phishing attacks occur outside of email, through messaging apps, social networks, or games.

Healthcare and Education Sector Vulnerabilities:

• Healthcare data breach costs have increased by 53.3% since 2020.
• The education sector faces an average of 2,507 cyber attempts per college or university per week in 2023.
• Ransomware attacks impact 66% of education organizations.

Business Email Compromise (BEC):

• Gift card requests constitute 68% of BEC attacks.
• BEC attacks resulted in $1.8 billion in damages in 2021,.

As organizations navigate the intricate landscape of cybersecurity, Soffid IAM stands as a stalwart partner, empowering them with comprehensive Identity and Access Management solutions. Proactive education, robust security frameworks, and strategic investments supported by Soffid IAM are pivotal in mitigating risks effectively.

Stay informed, stay secure with Soffid IAM. Contact us to fortify your organization’s cybersecurity posture.